After Binance, The Helium Foundation is unhappy. Before Helium moves to Solana, the US declares the delisting of HNT trading pairs.
- Binance. Before Helium moves to Solana, US delists HNT trading pairs.
- While disappointed, the Helium Foundation is nevertheless dedicated to the relocation.
- The transition of Helium to Solana will increase network utility.
Binance is one of the biggest cryptocurrency exchanges in the US. To make sure that all listed digital assets continue to “meet the standard of excellence” anticipated, the US is in the midst of a series of periodic evaluations.
The delisting of the HNT/USD and HNT/USDT trading pairs as of March 21st, 2023, was announced by Binance.US on March 13th.
The transition occurs before the Helium Foundation’s long-planned migration of the Helium (HNT) network to Solana.
American consumers are urged to either go to one of the additional 20+ venues that now handle HNT trading pairs or to think about taking custody of their HNT holdings utilising the open-source Helium Wallet programme.
Binance Terminates “Disappointed” Helium
The delisting of the HNT trading pairs by Binance.US has drawn criticism from the Helium Foundation.
To guarantee that the migration is effective and finished on schedule, the Foundation has been collaborating closely with the Solana community, the Solana Foundation, and other ecosystem initiatives.
After the migration, the Helium Wallet app will offer native subDAO token redemption as described in HIP 70 and additional integrations inside Existing decentralised finance (DeFi) systems, enabling HNT to trade on more decentralised exchanges.
The Helium Foundation is still dedicated to the migration and will keep informing Binance.US on the primary projects and future development plans for the network.
PoW to PoS
Helium’s move to Solana is a big milestone for the network, as it is on par with Ethereum’s change from Proof of Work (PoW) to Proof of Stake (PoS).
The Helium migration is anticipated to grow network utility and assist in directing more funds towards the Helium Foundation’s eventual objective of developing an accessible, all-encompassing communication layer for individuals and devices.
HNT is down 7% over the last 24 hours and is currently trading at $2.08 USD as a result of the Binance.US delisting news.
On the other hand
- Binance. HNT trading pairs were already delisted by the US in October 2022.
- On March 27, the Helium Network will officially migrate.
Why It’s Important
The most important improvement to the Helium network in terms of scalability and dependability is expected to be the Solana migration.
Learn more about the interaction between helium and solana.
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